How much can I earn as a project manager?

Project management

Are you interested in becoming a Project Manager? The demand for skilled Project Managers is continuing to grow across multiple industries. This is because every project with more than one stakeholder needs an effective manager.

Project managers are responsible for delivering products, events and initiatives with strict requirements. They’re the glue that holds everyone together. And the good news is, if you’re ready to step up and learn how to manage projects like a pro, you’ll be well rewarded.

Project management isn’t just about cracking a whip. It’s about getting your staff, contractors and client-side stakeholders confident and ready to produce great results. As a PM, your skills in planning, organisation, communication and negotiation will help your team produce something more than the sum of its parts.

How much can a project manager earn?

According to ABS stats, if you’re a contract, program or project administrator, you can expect to earn an average of $1,400 a week before tax. That’s well above the average $1,230 a week for other jobs.

Civil engineering project managers earn an average of $1,916 a week. While construction managers earn similarly high average salaries – around $1,719 a week.

Leaning more towards a creative project management path? As a manager in advertising, PR or sales, you could expect to earn about $1,858 a week.

How do I become a Project Manager?

To become a Project Manager you will need to generally have completed some form of additional education. There are a couple of paths you can go down to get the education required. A Diploma of Project Management is one of the common paths to follow. If you have had work experience that has given you some level of understanding of project management principles, a shorter-term certificate or diploma course makes a perfect choice.

What skills will I need to become a Project Manager?

Project Managers need to have various skills ranging from skills such as risk management and planning to communication and strong leadership. They must be able to ensure that projects run smoothly and have the ability to organise and motivate their teams.
Great Project Managers can:

Create plans that are easily adaptable in case unexpected problems arise.
You will have to continually adapt both before and during a project. Ensuring no aspect has been forgotten.

Communicate effectively to your team, stakeholders and senior members of the team.

Your team and stakeholders will need you to lead them through the project and guide them through any obstacles that may arise. Senior members of your team should be kept in the loop and be informed of how the project is tracking, and what needs to happen going forward.

Ensure the project is moving along adequately.

This is vital to ensure a project is completed on time and up to standard. You will need the ability to manage risk, budgeting and timing.

Keep a cool head

It’s not uncommon for things to not go as planned. A good Project Manager needs to have the ability to work calmly under high-level pressure. As well as having great problem-solving skills, initiative and personal drive.

Demonstrate knowledge of their industry

Being well educated on project management and staying up to date in your knowledge of your chosen industry is essential. As well as having a thorough understanding of project management tools, techniques and methodologies.

Recognise the new for continual learning

Once you have become a Project Manager, you must keep up to date with new knowledge and skills within the industry. The world is constantly changing so continuing to upskill, will help you to be a better Project Manager

What are some of the main industries Project Managers work in?

If you’re the type of person who’s always looking for a new challenge, then project management will keep you engaged and excited. There’s a huge demand for qualified project managers across a variety of industries, including (but not limited to):

Construction Manager

A construction Project Manager is often what people initially think when they hear the term ‘Project Manager.’ A career as a Construction manager means you will be working with everyone involved in the project. From the subcontractors to the Engineers and Architects.
You might be interested in how much does a construction manager earn? The good news is that within the construction industry, Construction Managers are some of the highest-paid professionals. Their high-pay is because of the complexity of their position and that you are required to have both education and work experience.
If you want to become a Construction Manager you will need to be able to work well under pressure and have comprehensive knowledge of building legislation and legal requirements.

ICT (information and communications technology) Project Manager

  • An ICT Project Managers role is to plan, organise and coordinate official ICT projects. They are responsible for daily operations of:
  • Resourcing
  • Scheduling
  • Task coordination
  • Meeting deadlines
  • Managing budgets

To become an ICT Project Manager you will generally need to have qualifications and several years experience working within an ICT team.

Civil Infrastructure Project Manager

Civil Project Managers are responsible for overseeing large construction projects before, during and after the process. Examples of these large construction projects are things like commercial structures, bridges and roads.
Most Civil Project Managers work for engineering firms or construction companies. Civil Project Managers can also work for Government agencies.
As a Civil Project Manager, you will be the person to complete construction planning processes, oversee the construction personnel and prepare progress reports and attend meetings.

Healthcare Project Manager

Being a Healthcare Project Manager, you would oversee various projects within the sector. Examples of these projects would be things from hiring doctors for a new department within the hospital, to overseeing the building of a new ward. You could also be the person to initiate plans to improve certain healthcare services.
It will be your responsibility to determine what issues are present, how they will be solved and then assign tasks to the appropriate person. You will need to monitor how projects are progressing, and ensure that it is running smoothly, on time and on budget. Healthcare Project Managers are also required to communicate to the hospital board, departments and anyone else necessary about budget decisions.
This is an extremely fast-paced role, so being able to work well under pressure is essential as you will have continuous deadlines and multiple projects on the go.

Financial Services Project Manager

The role of a Financial Services Project Manager will require you to develop and oversee various projects. These projects will most likely be related to a company’s revenue.
You will be responsible for financial planning and analysis, budget management, team leadership, efficiency enhancement, communication and presentation as well as scheduling and organisation.

Education Project Manager

One of the common times a project manager will be needed in the education sector is when a school is undertaking a project that requires building consent from the council, they must have a Project Manager to oversee the project.
On top of the project management tasks, you must also have a full understanding of all legal requirements for school property projects.

Creative Services Project Manager

Just like in other industries, a Creative Services Project Manager must be able to effectively communicate, demonstrate attention to detail, strong problem-solving skills and of course have strong organisational skills. The ability to work in high-pressure situations is also a fundamental attribute for a successful Creative Services Manager.
In this role, you would generally be responsible for working with both the account management and creative teams. You will lead and manage projects from the initial planning phase, right through until completion.

Does Project Management sound like the right career for you?

When you become a qualified project manager, you’ll be in good company. According to government stats, there are over 110,000 project managers across Australia. Professional associations such as the Australian Institute of Project Management and the Project Management Institute, with its local chapters, give you plenty of opportunities to network and continue your professional development.

The Department of Employment projections put growth in this field at 7.4% for the five years to 2022. That means not only are there plenty of exciting roles available now, but there’ll be even more by the time you finish your studies.

Monarch’s Diploma of Project Management is ideal for independent learners ready to take the next step. The flexible, 100% online delivery is a great option if you’re balancing existing work commitments or family. Trainer Gary Hatfield is an industry veteran with a passion for supporting and encouraging new entrants to the profession. Check out the course page and chat to a Course Consultant about your study options today on 1300 738 955.

Sources: mccrindle.com.au, lmip.gov.au, abs.gov.au, joboutlook.gov.au.